Assurant, Inc. (NYSE:AIZ) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,944 shares of the financial services provider’s stock after selling 264 shares during the quarter. Kentucky Retirement Systems’ holdings in Assurant were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIZ. Norges Bank acquired a new position in Assurant in the 4th quarter valued at about $108,253,000. AMF Tjanstepension AB bought a new position in Assurant during the 1st quarter worth $39,013,000. Gillson Capital LP bought a new position in shares of Assurant in the fourth quarter worth $27,013,000. Northern Trust Corp grew its stake in shares of Assurant by 23.4% in the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after purchasing an additional 139,680 shares in the last quarter. Finally, Ossiam bought a new position in shares of Assurant in the fourth quarter worth $14,764,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America decreased their target price on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised their price target on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.60.

Insider Transactions at Assurant

In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the completion of the sale, the chief operating officer now directly owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the transaction, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,788 shares of company stock worth $2,248,489. Company insiders own 0.53% of the company’s stock.

Assurant Trading Up 0.4 %

Shares of NYSE AIZ traded up $0.71 during midday trading on Monday, hitting $173.76. The stock had a trading volume of 56,377 shares, compared to its average volume of 349,094. The company’s 50-day simple moving average is $168.77 and its 200 day simple moving average is $173.26. The firm has a market cap of $9.03 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.70 and a beta of 0.54. Assurant, Inc. has a fifty-two week low of $133.13 and a fifty-two week high of $189.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.91. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Research analysts anticipate that Assurant, Inc. will post 16.14 EPS for the current year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a $0.72 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.66%. Assurant’s payout ratio is 20.10%.

Assurant Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.